Critical minerals discovered: 1,600 tonnes of lithium resources found in Karnataka 

Jitendra Singh, the Union minister of State for science and technology, said the Atomic Minerals Directorate for Exploration and Research (AMD) had found 1,600 tonnes of lithium deposits in Karnataka. This finding, which is situated in the Mandya district’s Marlagalla area, is important for India’s renewable energy industry. The declaration was provided in a written response to a Rajya Sabha unstarred question. The minister explained that in order to evaluate lithium deposits, basic surveys and limited subsurface drilling had also been carried out in the Karnataka district of Yadgiri. The AMD is also actively investigating possible geological domains in parts of Korba district, Chhattisgarh. The AMD has found significant mica belts in Rajasthan, Bihar, and Andhra Pradesh in addition to pegmatite belts in Odisha, Chhattisgarh, and Karnataka. 

Investment for EMPS enhanced to ₹778 crore to boost EV adoption

The Electric Mobility Promotion Scheme 2024 (EMPS 2024) has been extended to September 30, 2024, with an increase in its overall investment from ₹500 crore to ₹778 crore, according to the ministry of heavy industries. The programme, which was first set to run from April 1 to July 31, 2024, attempts to increase the number of electric cars (EVs) being adopted in India. The ₹778 crore enhanced outlay is divided into ₹769.65 crore for demand incentives and subsidies for electric two- and three-wheelers, and ₹8.35 crore for scheme administration, which includes Project Management Agency fees and Information, Education, and Communication (IEC) activities. The program’s updated goal is to assist 5,60,789 electric vehicles, which includes 60,709 electric three-wheelers and 5,00,080 electric two-wheelers. The incentives will be available only for EVs equipped with advanced batteries in order to encourage advanced technologies. The scheme is fund-limited, and the EVs are restricted to targeted numbers for each defined category.

PLI, FAME-II and ACC battery storage helped auto industry grow: Economic Survey

Several government initiatives supported the automobile sector in fiscal year 2024 (FY24), when the nation produced around 49 lakh passenger cars, 9.9 lakh three-wheelers, 214.7 lakh two-wheelers, and 10.7 lakh commercial vehicles, according to the Economic Survey. The National Programme on Advanced Chemistry Cell (ACC) battery storage, approved in May 2021 with a budgetary outlay of ₹18,100 crore, phase II of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II), approved with an outlay of ₹11,500 crore for five years during FY20 to FY24, and other policies like these had a significant positive impact on the industry’s growth, according to the Survey. For example, under the FAME-II, the government incentivised a total of 1.66 lakh electric four wheelers, 11,70,200 of electric two-wheelers, 1,30,300 and 4,600 buses during these five years.

China doubles EV subsidy to counter economic slowdown

China increased its efforts to boost its flagging economy by doubling incentives for electric cars purchased to replace older models and abruptly lowering a key policy rate. Customers who switch to electric vehicles from conventional cars will be eligible for a subsidy of 20,000 yuan (US$2,770) per vehicle—double the 10,000 yuan that was initially proposed in April. Since 2020, one of the economies’ bright spots on the mainland has been EVs. Around 856,000 plug-in hybrid and pure electric cars were supplied to Chinese customers in June, representing a 28.6% rise in comparison to the same month last year.

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